Eliq, the energy customer engagement company that enables utilities to rebuild their customer interaction for the digital era, has announced a €5 million Series A round of financing co-led by Inven Capital and Contrarian Ventures with participation from existing investors.
The investment brings Eliq’s total funding since its launch to €9 million and will help the company aggressively
expand its sales and marketing efforts as well as accelerate product development. Inven Capital’s General
Partner Petr Míkovec and Contrarian Ventures General Partner Rokas Peciulaitis will join Eliq’s Board of Directors.
“We enable utilities to become a meaningful part of customers’ lives and ultimately help accelerate the Energy Transition from within those customers homes. The new funds will enable us to bring more solutions to market quickly, and to broaden our geographical reach by growing our teams in both Gothenburg and London,” says Håkan Ludvigson, CEO and Co-founder, Eliq.
“Eliq represents the future of communication between energy companies and their customers. We were amazed by how Eliq is lowering the churn rate of their utility customers, for some by up to 70%. They are enabling to build deep trust between the utility and the end consumer which is manifested by the steep increase in engagement rate and interaction time – in some cases tenfold,” said Petr Míkovec, Managing Director, Inven Capital, a venture fund based in the Czech Republic, investing in early and growth-stage technology companies in the cleantech and new energy sector in Europe and Israel.
Eliq makes Inven’s 12th portfolio company, which also includes notable companies such as Sonnen – home energy storage (exited to Shell), Tado – smart thermostat and CyberX – cybersecurity (exited to Microsoft).
“We feel incredibly lucky to be supporting this exceptional team with great co-investors and to contribute to Eliq’s success to change the European utility landscape.” – Rokas Peiculaitis, General Partner, Contrarian Ventures
The Series A financing builds on an exceptional year for Eliq which saw a rapidly growing roster of clients,
product and market momentum in the rapidly changing European energy retail landscape, launching with
leading utilities such as Vattenfall and CGE (Chile / Naturgy Group) and receiving top recognition by industry
analyst firms.